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Why Brookfield Property Partners, IBM, and UPS are great stocks for investors with long-term perspectives.
WASHINGTON/MOSCOW (Reuters) - Western technology companies, including Cisco (CSCO.O), IBM (IBM.N) and SAP (SAPG.DE), are acceding to demands by Moscow for access to closely guarded product security secrets, at a time when Russia has been accused of a growing number of cyber attacks on the West, a Reuters investigation has found. Russian authorities are asking Western tech companies to allow them to review source code for security products such as firewalls, anti-virus applications and software containing encryption before permitting the products to be imported and sold in the country. While a number of U.S. firms say they are playing ball to preserve their entree to Russia's huge tech market, at least one U.S. firm, Symantec (SYMC.O), told Reuters it has stopped cooperating with the source code reviews over security concerns.
Bernstein analyst Toni Sacconaghi today continues his assault on shares of IBM (IBM), posing the question of whether the company’s mainframe business can bolster its profit, and concluding that No, in fact, mainframes may be a source of weakness. "A key near-term debate among investors is whether the anticipated release of a new mainframe can help IBM achieve a back-end-loaded second half." The immediate answer, he writes, is a refresh of the mainframe may add up to 19 cents in earnings per share in the second half of this year, which is “not enough to get us comfortable with IBM’s fiscal 2017 EPS guidance." Mainframes are just 3% of total revenue, and 2% of profit, he notes, annually, but the whole “platform” of a mainframe, including storage, software, support contracts, and services that go with it, were nearly a quarter of IBM’s revenue last year, and 40% of profits.